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Lake Zurich
Lake Zurich
Illinois
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Lake Zurich is a village in Lake County, Illinois, United States, a northwest suburb of Chicago. The population was 19,631 at the 2010 census. The village is named after a water body named Lake Zurich which is completely located inside the village. In 2015, personal finance website, NerdWallet.com, rated Lake Zurich number one in Illinois for young families. In 2006, Lake Zurich was named by Frommer's as one of the top hundred "Best Places to Raise Your Family" and by U.S. News as one of the "Top Twenty-five Affordable Places to Live in the Country". In 2013, Lake Zurich achieved national recognition when Sandra Bullock's character in Gravity name-dropped the village as her character's hometown.

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Taxes

C+

How did Illinois earn the grade of C+? We examined the state taxes based on how age friendly they are. Illinois has a state sales tax of 6.25%. Of particular interest is that Illinois does not have taxes on social security. There are estate taxes. There are no taxes imposed on inheritance. Illinois has an effective property tax rate of 2.32%. Weighing these taxes and other taxes most likely to impact the aging population is how Illinois earned its state tax grade of C+.

Learn more about taxes in Illinois

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